Though I understand there are few/no circumstances under which this makes sense, I need an answer to the following question.
Scenario: I ask a private lender for a $2,000 loan. He gives it to me. I pay him $2,000 immediately afterward as a GIFT. Then I start making payments on the loan he gave me, with interest. Is this legal? I know it's crazy but is it legal?
Worded another way, can you gift the principle of a loan back to the lender?
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yeah, it's probably fine.
a similar situation can occur when you declare bankruptcy. You can if you wish go back and reaffirm a debt that was wiped clean.
in your case you can expect people to look into it for money laundering purposes, but it's probably legal if that's not what you're doing.
Great, thanks for the straight forward answer.
Worst case scenario would be having trouble finding such a lender. The best case scenario is getting laughed at for gifting him $2,000 and then owing him $2,000 plus interest.
one would certainly wonder why you'd want to do that, but if you legit like giving money to businesses most will probably take it.
I'm assuming there are no circumstances where this is normal?
donations to for-profit companies?
usually the person donating has a vested interest in the company, is avoiding taxes, is paying a bribe, or is laundering money.
in general most people don't just give money to businesses expecting nothing in return. So no, not normal in any situation I can think of. Maybe if a business has suffered a catastrophe and people want to help them recover or survive?
Ah, but this could look suspicious in a big way. If I were to offer this sort of thing to a lender, what would you expect me to hear back from him? What would he need me to do to show that it's legit?
>what would you expect me to hear back from him?
I'd expect company policy prevents it.
>What would he need me to do to show that it's legit?
He probably wouldn't doubt your sincerity, it's just a question of whether or not he or his employer is allowed to accept the gift.
Also you may expect to be reported to the cops to see if they think you need institutional help.
kk, thanks for the info.
What if I paid the individual the $2,000 and not the company. Say the person I work with is named Sam King and he works for J&J Lenders. I get the loan from J&J and write Sam King a check for $2,000...
Ok, thanks for the help everybody.
>could you elaborate?
that's where you'll likely run into problems.
Most big companies have rules against employees taking gifts from clients.
depends on the company though. If someone wanted to give one of my crew a bonus I sure as hell wouldn't stop them.
policies vary.
Got it. So it just depends on the company.
yep.
prepare to be declared legally incompetent and assigned a guardian though. Never to borrow moneys again.
Do you think that would actually happen? If I took out a loan, gave the guy who gave it to me a gift check for that amount, and dutifully paid back the loan they'd put me in a situation like that instead of seeing if they could do it again?
yeah, bankers don't care about a couple thousand bux, and they do tend to care about the people they do business with at least a little.
are you jerking it to the thought of being put in a mental hospital? Or is that not part of your fetish?
On reading about it, it seems like it's pretty difficult to get someone declared as incompetitent.
Getting divorced, and want to destroy assets in order to keep them from going to your partner?
There are more fun ways to get rid of money.
youtube.com
The fetish is appearing stupid to someone who takes advantage of me. Like, making a bet with someone and acting like I have a chance when really I don't; buying a used car for way more than it's worth; working a job for way less than I should be; signing a contract that is heavily one sided.
No, it's a fetish that I have where I like to appear stupid when making deals with business folk, profiteers, investers, etc. I like getting worked over by people when I put myself into a situation and act ignorant of how stupid the situation is.
ah, 50 Shades of Gay
Yeah, but you kind of wish you knew someone who got a boner to the idea of owing you money.
not really. I'm not into boners, I have my own.
being owed money just kinda annoys me.